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Top 20 Mobile Startup Investors in Iceland

Last updated: Aug 2024 A list of 20 angel investors and VC funds that invest in Mobile startups based in Iceland. We rank investors based on the number of investments they made in Mobile companies from Iceland. We update this investor list every month.

Top 20 Mobile Startup Investors in Iceland

Investor	Mobile Iceland investments
Frumtak Ventures	6
Novator	3
Index Ventures	2
David Helgason	2
Greycroft	1
David Wallerstein	1
Soo Boon Koh	1
Headline	1
Paige Craig	1
Wellington Partners	1
Ridge Ventures	1
Sequoia Capital	1
Tuesday Capital	1
Asabys Partners	1
Tencent	1
CAA Ventures	1
Jeff Solomon	1
Mesa Ventures	1
Atomico	1
New Business Venture Fund	1

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Frumtak (a.k.a. Frumtak Investment Fund, Frumtak I, Frumtak 1) was founded December 23rd. 2008. The objective was to invest in early stage growth companies that were post seed and had growth potential. This would result in leading companies that could deliver a good return to investors.At the close of Frumtak‘s investment period on December 31st.2012, the fund had invested in fifteen companies with nine investments still active. The remainder of lifetime of the fund is used to follow on investments and divest assets.Frumtak Ventures (Frumtak II, Frumtak 2) started in February 2015. The fund builds on the legacy of Frumtak 1. The fund invests in early stage innovative companies that are post seed and show great potential for growth. The fund invests primarily in Iceland but is allowed to invest abroad as allowed by law in connection with its portfolio investments to ensure success in foreign markets.Frumtak II emphasizes to invest in companies where growth and sales in foreign markets are the primary objective, but does not specialize in any particular industry. The fund wants to ensure that original ideas get a chance and thereby increasing the probability of creating growth and value. By doing this, it enforces the image that Icelandic innovation is profitable.Frumtak II aspires to be a trusted and popular ally. The fund strives to have a good relationship and co-operation with all stakeholders within the start-up and innovation community. The fund puts a special emphasis on co-operating with stakeholders outside Iceland.

Investment focus

Software, Information Technology, Enterprise Software
Seed, Funding Round, Series A
Iceland, United States, United Kingdom

Portfolio highlights

50skills — Bring people, information and tools together. 50skills is a hiring system and so much more.
Spectaflow — Spectaflow is a SaaS solution for accommodations businesses focused on improving housekeeping and maintenance workflows
Abler — Abler brings simplicity to the complexities of team management. With easy scheduling, messaging, payment, and data tools, Abler empowers users to spend more time cultivating the essential life skills and values learned through sports and other organised activities.

Novator is an alternative investment firm founded and led by the international investor and entrepreneur Thor Bjorgolfsson.Novator's investment portfolio is focused around following sectors: Telecommunications, Pharmaceuticals, IT and Renewable Energy. In addition, Novator operates a Private Equity Fund and a Credit Opportunities Fund.Novator focuses on developing strong management teams in each of its portfolio companies. While granting them the autonomy to create value, Novator maintains a supervisory role, principally through representation on the Boards of its investee companies. Novator differentiates itself from many other private equity companies in concentrating on complex situations, either by virtue of their structure or their cross-border nature. To create value, Novator undertakes the restructuring or "de-risking" of investment opportunities through re-financing, combining acquired assets with existing businesses, through sale to strategic or financial buyers, or through flotation. Novator's investment portfolio is focused around four main sectors:Telecommunications, Pharmaceuticals, IT and Renewable Energy.

Investment focus

Software, E-Commerce, Online Games
Funding Round, Series B, Series C
United Kingdom, United States, Iceland

Portfolio highlights

Nord Security — Nord Security is the leader in the field of online privacy and security. Our security tools have earned praise from respected experts and tech outlets.
Better.com — Better Mortgage Corporation is a direct lender dedicated to providing a fast, transparent digital mortgage experience backed by superior customer support.
Steel City Interactive — Steel City Interactive develops gaming.

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

Investment focus

Software, E-Commerce, Internet
Series A, Series B, Seed
United States, United Kingdom, France

Portfolio highlights

MoeGo — MoeGo is the best all-in-one pet grooming software designed to automate & simplify your pet grooming business.
Dazz — Dazz is a cloud security repair service that takes a unique approach to cybersecurity.
Savvy Wealth — Savvy is the next-generation wealth management firm that pairs world-class advisors with modern software to help clients achieve their financial goals.

David is a technologist, the founder of Unity Technologies, non-exec director to others, and a restless entrepreneur with a passion for creating feedback loops between innovation and teams and products, applying new and old business models to changing industries, and pushing people to do the very best they can do.David's background is inprogramming, an assortment of university dabbling, creating companies, and helping entrepreneurs. He served as CEO of Unity Technologies since co-founding it in 2003 and until October 2014, with an unflinching vision to democratize game development, and to develop technology and business models for the next phase of the games industry. David Helgason attended the University of Copenhagen.

Investment focus

Software, Gaming, Information Technology
Seed, Funding Round, Pre-Seed
United States, Denmark, Finland

Portfolio highlights

Isometric — Isometric is a carbon removal standard and registry.
Slope — We handle the lending, underwriting, debt collection and fully pay out to you immediately once the product or service ships.
Rocky Road — At Rocky Road, we are redefining social gaming with our social gaming network. We are hiring!

Venture capital and technology investments

Investment focus

Software, E-Commerce, Artificial Intelligence
Series A, Seed, Series B
United States, United Kingdom, Germany

Portfolio highlights

Sybill AI — Bringing Emotional Intelligence to Video Calls
Bee — Bee is an AI developer of a life administration wearable assistant.
Contextual AI — Our contextual language models are built to be more customizable, scalable and trustable, while keeping your data safe.

David A.M. Wallerstein, SEVP of Tencent. David joined Tencent in 2001. He oversees the Company’s international business initiatives through identifying cooperation with multinational partners and he is responsible for Tencent’s operations outside mainland China. Prior to Tencent, David was the Vice President, Business Development of MIH inChina, and was involved in Internet strategy and mergers and acquisitions activities in China. Prior to that, David worked as a management consultant in China's telecommunications and IT industries.

Investment focus

Artificial Intelligence, Mobile, Agriculture
Seed, Series B, Series A
United States, Israel, Germany

Portfolio highlights

Teatime Games — Teatime Games is an Iceland-based gaming startup that reinvents social games.
Lilium — Lilium is developing sustainable, high-speed air mobility through its electric vertical take-off and landing aircraft, vertiports and digital service.
Scaled Inference — Artificial Intelligence & Machine Learning Tools

Soo Boon has over 30 years of global experience in finance and venture capital investing and brings this valuable expertise to each and every investment. She founded iGlobe Partners in 1999, in which the funds sponsor is the Economic Development Board (EDB) of Singapore, the pre-eminent statutory board responsible for enhancing Singapore'sglobal economic and business position. iGlobe Partners also started iGlobe Treasury Fund (NZ$31 million fund) in 2003 as a joint venture with the New Zealand Government.From 1988 to 1999, Soo Boon held executive management positions with Vertex Management Inc., (Vertex), the venture capital arm of Singapore Technologies, managing three funds during her tenure. She established the US operation of Vertex and headed the Silicon Valley office for 9 years, where she was instrumental in the early days of technology transfer for over 100 engineers in Silicon Valley for Chartered Semiconductor and Chartered Microwave. Soo Boon then started Vertex's European operations (headquartered in London, United Kingdom) and ran its European investment operation. As a result of her expertise, she guided numerous successful investments to IPOs, such as Lattice Semiconductor, Creative Technologies, and Activcard SA.Before Vertex, Soo Boon also held various senior management positions in the Treasury and Credit departments in her 12 years of work in the Development Bank of Singapore. Her time there also equipped her with in-depth knowledge of the finance aspect of the venture capital industry. She also headed the International Departments, Credit Division with responsibility for its eight overseas offices and Syndication Department for the Asia-Pacific region.Soo Boon earned her degree in 1973 from King's College, University of London with a Bachelor of Science Degree in Mathematics (First Class Honors). She attended the INSEAD Advanced Management program in 1998.Currently, she serves on the boards of directors of several private companies, including Fortemedia (Nanjing), Telenav Inc., and u-blox AG (SWX:UBXN). Since 2003, she serves on the Investment Committee of iGlobe Treasury Fund, a supported by the New Zealand Government. She is also one of the founding members of the Monte Jade (Singapore Chapter) and an EXCO member of the Singapore Chinese Chamber of Commerce.

Investment focus

Mobile, Apps, Cloud Computing
Series A, Seed, Series B
Singapore, United States, China

Portfolio highlights

Movi — Movi is building a new canvas for creation and ownership of web 3.0 visual content.
Luxola — Luxola was launched in Singapore in 2011 and has quickly grown into the destination for beauty in Southeast Asia; carrying over 4000 products and serving customers across the region including Australia, India and the UAE. Easily accessible. Luxola is committed to providing you with outstanding customer service and bringing you the best brandsfrom around the world, under one platform. All of our products are 100% authentic. We carry over 250 brands, of which over 65 brands across multiple markets are exclusive to Luxola.Education empowers our customers. With each product, Luxola provides ‘how-to’ advice and a review platform, giving you the power to hear from others with similar skin tones and types.Staying relevant is at the core of everything we do. In addition to providing a platform to purchase all your beauty favourites when you want, every week we pen LX Edit, our digital lifestyle magazine, offering inspiration and the latest insight into makeup, skincare, hair and celebrity fashion.
QuizUp — Plain Vanilla is an Icelandic Game Studio based in Reykjavik Iceland and in San Francisco. It develops a real-time multiplayer quiz platform for mobile devices.

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global.

Investment focus

Software, E-Commerce, Information Technology
Series A, Series B, Seed
United States, Germany, United Kingdom

Portfolio highlights

Mistral AI — Frontier AI in your hands
Gorilla — We empower Energy Retailers in pricing, forecasting and reporting with data-driven solutions in boosting speed and flexibility.
Natural Cycles — Natural Cycles birth control is 93% effective with typical use and 98% effective with perfect use. Learn more about hormone-free birth control today.

Paige Craig Is The Partner at Outlander.He attend to the United States Military Academy at West PointUnited States Military Academy at West Point 1992.

Investment focus

Software, E-Commerce, Mobile
Seed, Series A, Angel
United States, Iceland

Portfolio highlights

StackStr — Real time monitoring of machine learning systems.
Qualified — Qualified is the most effective platform for evaluating and training world-class engineers. Utilizing real-world assessment methodology we enable companies to identify high-performing hires.
Spaceship — A platform for Continuous Delivery. Turn your code into containers automatically. Get it running on Kubernetes instantly.

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

Investment focus

Health Care, Biotechnology, Medical
Series A, Series B, Funding Round
Germany, United States, United Kingdom

Portfolio highlights

UroMems — The device is developing an active implantable medical device based on the cutting edge technologyl in the field of embedded systems and micro-technologies for the development of its products.
Minervax — We are MinervaX. A clinical stage biotech company focused on making a global impact by developing state-of-the-art vaccines.
Onward — Working to restore movement, independence, and health in people with spinal cord injury.

Ridge Ventures (formerly IDG Ventures) is an early stage venture capital fund investing in experienced founders redefining how the world uses software.

Investment focus

Software, Internet, Information Technology
Series A, Seed, Series B
United States, Canada, Finland

Portfolio highlights

Recall.ai — Recall.ai provides a single API for meeting bots on every platform like Zoom, Google Meet, Microsoft Teams and more.
Scoop Analytics — Explore Scoop, your single platform for effortlessly combining and analyzing business data. Unlock actionable insights faster with our unique tool that scoops data from all your applications, allowing you to focus on making informed decisions without needing a data team.
GoodDay Software — GoodDay Software innovating on the most challenging problems facing commerce brands today. As former brand operators, we’re passionate about helping brands become more efficient and profitable, with fewer resources.

We help the daring build legendary companies.

Investment focus

Software, Information Technology, Enterprise Software
Series B, Series A, Series C
United States, China, India

Portfolio highlights

MoeGo — MoeGo is the best all-in-one pet grooming software designed to automate & simplify your pet grooming business.
Vanta — Vanta automates the complex and time-consuming process of SOC 2, HIPAA, ISO 27001, PCI, and GDPR compliance certification. Automate your security monitoring in weeks instead of months.
Caldera — Deploy production-grade rollups on Caldera with Arbitrum Orbit or OP Stack. Caldera blockchains are live and production-ready. It takes under half an hour to deploy your Ethereum-compatible application to a Caldera Chain.

Tuesday Capital (formerly CrunchFund) has been helping early-stage founders build the companies of tomorrow since 2011.

Investment focus

Software, Mobile, Internet
Seed, Series A, Funding Round
United States, Mexico, Israel

Portfolio highlights

Kollegio — Your Personal College Admissions Counselor
Cosmology — Cosmology is building a unified developer experience for interchain dApps
Foundation Health — Foundation Health is a telehealth and nationwide pharmacies and diagnostic distribution centre

Asabys Partners is a venture capital firm that invests across the board in human healthcare. The company is active in the health-tech and biopharma industries and aims to invest in Spain and abroad in innovative and transformative technologies. Asabys Partners are motivated by the idea of pushing the boundaries of science and medicine. This is donethrough the sourcing and financing of the most disruptive technologies, and through the collaboration with the best internal and external talents of our industry.

Investment focus

Biotechnology, Medical Device, Health Care
Series A, Seed, Series B
Spain, France, Belgium

Portfolio highlights

AgomAb Therapeutics — AgomAb is developing molecular therapies for the regeneration of damaged tissues. Their unique agonistic monoclonal antibody molecules (“agomAbs”) stimulate molecular and cellular repair mechanisms that have the potential to restore organ function in patients with fibrotic, inflammatory, autoimmune and degenerative diseases.
Augustine Therapeutics — Augustine, Innovative therapies for neuromuscular and neurodegenerative diseases
Gradient Denervation Technologies — Gradient Denervation Technologies develops a medical device for a transvascular treatment of pulmonary hypertension, based on prior research and intellectual property developed at Stanford University.

Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. Its communications and social platforms Weixin and QQ connect users with each other, with digital content and daily life services in just a few clicks. Tencent has maintained steady growth under its user-oriented operatingstrategies. It provides value-added internet, mobile, and telecom services, as well as online advertising under the strategic goal of providing users with "one-stop online lifestyle services." Tencent’s Internet platforms in China – QQ (QQ Instant Messenger), WeChat, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai, and Tenpay – aim to address the various needs of internet users, including communication, information, entertainment, e-commerce, and others.In September 2013, Tencent's market valuation rose to $101 billion, and as of November 21, 2013, QQ had 2 billion active users and WeChat had 650 million monthly active users. The numbers of active users for QQ mail, Qzone, Tencent Weibo, and QQ news were 274 million, 626 million, 220 million, and 150 million, respectively.Tencent was founded in November of 1998. In April 2000, the IDG and PCCW invested a total of $2.2 million dollars in the company. Tencent was listed on the Hong Kong Stock Exchange (SEHK) on June 16, 2004. Baidu, Alibaba, and Netease are Tencent's major competitors.

Investment focus

Software, Financial Services, E-Commerce
Series B, Series A, Series C
China, United States, United Kingdom

Portfolio highlights

GMM Music — GMM Music unlocks the value of Thailand's music economy.
Gensciences — Gensciences develops drugs that focus on underserved illnesses like hemophilia, metabolic diseases, and anti-tumor fields.
Moonshot AI — Dark Side of the Moon is an AI large-scale model company.

CAA Ventures is the venture arm of Creative Artists Agency.

Investment focus

Internet, Mobile, E-Commerce
Series A, Seed, Series B
United States, Canada, Iceland

Portfolio highlights

Bungalow — Bungalow is a residential real estate platform that provides renters with a more convenient, flexible, and communal living solution. It utilizes existing housing supply by signing long-term leases with homeowners, and offers multi-bedroom homes in some of the most desirable neighborhoods in cities throughout the United States.Bungalow offersprivate bedrooms with handpicked housemates in beautifully furnished homes across seven major cities. Each home comes furnished and includes wifi, utilities, housekeeping, and monthly community events for members.Andrew Collins and Justin McCarty founded Bungalow in 2016. Its headquarters is in San Francisco in California.
Harper Wilde — Harper Wilde owns and operates an online portal for shopping lingerie.The company is committed not only to lifting up ladies, but also to lifting up the future generation of leading ladies. Harper Wilde's purposeful designs and curated options not only make things easier for customers, but also allow us to save money in production costs andpass those savings onto their customers. In this way, they empower women by providing them with more fairly-priced products, at nearly half of what competitors charge.
DeSo Foundation — DeSo is a layer -1 blockchain designed to build and scale decentralized social apps to 1 Billion users. Take back ownership of your content and social graph with web3 versions of Twitter and LinkedIn.

Jeff Solomon is the Co-Founder of Markup Hero.

Investment focus

Mobile, iOS, Android
Seed
United States, Iceland

Portfolio highlights

The Kive Company — The Kive Company operates under the names Artkive and Lifekive. Artkive the leading service that helps parents celebrate their kids' art. Artkive offers the Artkive app for people who want to DIY or the Artkive Box for people who want to send in their art to be professionally photographed and turned into keepsake books or custom-framed mosaicprints. The Kive Company was incorporated in 2012 and is based in Los Angeles, California.
Umano — Umano is an audio streaming service.
Cubcoats — 2-in-1 wearable & playable transforming friends. A take everywhere that kids and parents equally adore.

MESA Ventures is a Seed and Series A venture fund focused on e-commerce, advertising, media, enterprise software, and mobile technologies. The Fund co-invests between $50,000 and $250,000 alongside established early stage venture firms. We actively support talented entrepreneurs building big businesses. To do that, we invest social capitalthat we believe valuable as financial capital. This comes from tapping into the team’s global network of media, entertainment and technology relationships to provide investor introductions, executive team hiring, business development, client & advertiser introductions, and marketing support. The Fund's goal is to help its portfolio companies whenever and wherever it can.

Investment focus

Mobile, E-Commerce, Software
Seed, Series A, Funding Round
United States, Germany, Iceland

Portfolio highlights

Arconex — Arconex - Vertical AI SaaS for the Architecture, Engineering & Construction (AEC) Industry.
Zipdrug — Discover the innovative capabilities and solutions from CarelonRx that help remove barriers, personalize experiences, and improve health outcomes.
MessageYes (formerly ReplyYes) — MessageYes' mission is to help people effortlessly discover and purchase items they love using their mobile phones. MessageYes is the first platform to offer frictionless e-commerce over mobile messaging for brands looking to engage and transact directly with their customers. Leveraging artificial intelligence (AI), human-assisted AI, andintegrated payments, the MessageYes platform learns from customer feedback to make the experience serendipitous to each person and brand. Message recipients simply reply "Yes" to instantly buy from their mobile phones.

Atomico invests in innovative technology companies around the world.

Investment focus

Software, Information Technology, SaaS
Series A, Series B, Series C
United States, United Kingdom, Germany

Portfolio highlights

Healx — At Healx we use AI drug discovery to develop new treatments for rare diseases. We bring treatments from prediction to patient.
Iconic.AI — Iconic AI is an AAA games studio AI-driven game development
Lakera AI — Lakera Guard empowers organizations to build GenAI applications without worrying about prompt injections, data loss, harmful content, and other LLM risks. Powered by the world's most advanced AI threat intelligence.

The New Business Venture Fund is an evergreen investment fund that actively contributes to the development and growth of the Icelandic economy by investing in promising innovation and start-up companies.The New Business Venture Fund invests at seed and early stage in promising growth companies with great business ideas and strong management anddevelopment teams.The New Business Venture Fund is a state owned investment fund intended to strengthen and develop the Icelandic venture capital market along with promoting startups and business in Iceland thus encouraging economic growth.

Investment focus

Software, Health Care, Medical
Seed, Funding Round, Series A
Iceland, United States, China

Portfolio highlights

HorseDay — HorseDay is a mobile application to track horse activities.
Spectaflow — Spectaflow is a SaaS solution for accommodations businesses focused on improving housekeeping and maintenance workflows
PayAnalytics — PayAnalytics, a leading pay equity and workforce analytics solution, aids companies in closing pay gaps and fostering workplace equity. Ensure compliance with pay transparency regulations, assess wage disparities, and analyze workforce demographics conveniently.

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